Co-founder of Microsoft, Bill Gates, has bought a six percent stake in Spain-based construction company Fomento de Construcciones y Contratas S.A. (FCC).
FCC, which is the parent company of recycling and resource management company FCC Environment, has recently expanded its operations in the UK by winning a number of major infrastructure projects including the £600m Mersey Gateway bridge and a £280m motor racing circuit in Wales.
In a statement FCC confirmed it has sold 7,638,198 shares equivalent to 6.0 percent of capital to the fund related to William H. Gates III.
The transaction was performed at the closing market price of Friday 18 October, ie, 14.865 euro per share, totalling 113,541,813 euro.
Under the accounting standards, this transaction represents an increase in the shareholders’ equity of Fomento de Construcciones y Contratas S.A. by the amount transferred, but there is no impact on income for the year.
Following this transaction, there are 242,031 shares in treasury stock, equivalent to 0.19 percent of capital.
According to the Bloomberg Billionaires List, Gates is the world’s richest person in 2013.